Mizuho Trims Zoom Video Communications (NASDAQ:ZM) Target Price to $100.00

Zoom Video Communications (NASDAQ:ZMGet Rating) had its price target lowered by Mizuho from $120.00 to $100.00 in a research note issued to investors on Tuesday morning, The Fly reports. The firm currently has a buy rating on the stock.

Other research analysts also recently issued research reports about the stock. MKM Partners cut their price target on shares of Zoom Video Communications from $125.00 to $100.00 in a report on Wednesday, November 9th. The Goldman Sachs Group decreased their price target on shares of Zoom Video Communications from $142.00 to $122.00 and set a neutral rating on the stock in a research report on Tuesday, August 23rd. Morgan Stanley decreased their price target on shares of Zoom Video Communications from $90.00 to $85.00 and set an equal weight rating on the stock in a research report on Tuesday. Credit Suisse Group started coverage on shares of Zoom Video Communications in a research report on Friday, September 23rd. They issued a neutral rating and a $83.00 price target on the stock. Finally, Piper Sandler decreased their price target on shares of Zoom Video Communications from $91.00 to $84.00 and set a neutral rating on the stock in a research report on Wednesday, November 9th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Zoom Video Communications currently has a consensus rating of Hold and a consensus target price of $115.86.

Zoom Video Communications Stock Down 1.3 %

ZM stock opened at $76.14 on Tuesday. Zoom Video Communications has a 12-month low of $70.43 and a 12-month high of $235.97. The company has a market cap of $22.66 billion, a price-to-earnings ratio of 33.39, a PEG ratio of 3.01 and a beta of -0.29. The company has a 50 day moving average of $78.51 and a two-hundred day moving average of $93.54.

Zoom Video Communications (NASDAQ:ZMGet Rating) last released its earnings results on Monday, November 21st. The company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.23. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.10 billion. Zoom Video Communications had a net margin of 16.07% and a return on equity of 8.80%. The company’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.72 EPS. On average, research analysts anticipate that Zoom Video Communications will post 1.32 EPS for the current year.

Insider Activity

In other news, insider Velchamy Sankarlingam sold 2,374 shares of the stock in a transaction dated Saturday, October 8th. The shares were sold at an average price of $71.59, for a total value of $169,954.66. Following the transaction, the insider now directly owns 15,869 shares of the company’s stock, valued at $1,136,061.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 11.24% of the company’s stock.

Hedge Funds Weigh In On Zoom Video Communications

Several institutional investors and hedge funds have recently modified their holdings of the business. IHT Wealth Management LLC grew its stake in shares of Zoom Video Communications by 27.6% in the third quarter. IHT Wealth Management LLC now owns 6,722 shares of the company’s stock valued at $495,000 after acquiring an additional 1,456 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in shares of Zoom Video Communications by 56.4% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 3,181 shares of the company’s stock valued at $234,000 after purchasing an additional 1,147 shares in the last quarter. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Zoom Video Communications in the 3rd quarter valued at approximately $5,116,000. California State Teachers Retirement System raised its holdings in Zoom Video Communications by 1.3% in the 3rd quarter. California State Teachers Retirement System now owns 383,806 shares of the company’s stock valued at $28,244,000 after buying an additional 5,053 shares during the last quarter. Finally, Industrial Alliance Investment Management Inc. raised its holdings in Zoom Video Communications by 3.6% in the 3rd quarter. Industrial Alliance Investment Management Inc. now owns 15,644 shares of the company’s stock valued at $1,151,000 after buying an additional 545 shares during the last quarter. 52.86% of the stock is currently owned by institutional investors and hedge funds.

Zoom Video Communications Company Profile

(Get Rating)

Zoom Video Communications, Inc provides unified communications platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. The company offers Zoom Meetings that offers HD video, voice, chat, and content sharing through mobile devices, desktops, laptops, telephones, and conference room systems; Zoom Phone, an enterprise cloud phone system; and Zoom Chat enables users to share messages, images, audio files, and content in desktop, laptop, tablet, and mobile devices.

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